Vietnam’s VN-Index closed at 1,710 on November 2, down more than 30 points, after briefly losing 48 points and slipping below 1,700. VnExpress reported that buying in the final 15 minutes narrowed the decline, although the benchmark still recorded its third consecutive falling session.
Broad losses across sectors
Almost 270 HoSE shares fell, roughly six times the number of gainers. Twenty six large capitalisation stocks closed below reference prices, with GVR hitting its daily floor. Banking shares were under particular pressure: VPB lost more than 6%, while VCB, BID, LPB and ACB fell over 3%.
Oil related shares reversed earlier gains. PVT declined 3.1% and PLX 2.9%. Several property stocks lost around 4–5%, while VIC provided a rare positive contribution with a 0.4% rise.
Trading value exceeded VND 18.5 trillion, about VND 4 trillion higher than the previous session. Foreign investors extended their selling to a seventh session.
Margin requirements in focus
A brokerage branch director quoted by VnExpress attributed much of the pressure to margin calls, which can prompt investors to sell other holdings to raise cash. HSC analysts separately warned that additional margin related or forced selling could be difficult for existing demand to absorb.
HSC also described investors remaining on the sidelines while waiting for lower prices. These explanations are assessments from market participants about the session’s dynamics.
The next session will show whether the late buying persists. Market breadth, demand and pressure to replenish margin accounts will provide context for interpreting any recovery after three consecutive declines.